Working jointly with the U.S. Small Business Administration
(SBA),
Ocean Bank offers small business owners the
opportunity to secure funding
to expand, grow
and
get new business strategies off the ground.

To
qualify for a SBA 504 Loan, your business must meet
the following guidelines:

Less
than $15 million in net worth

Less
than $5 million in after tax profits

Less
than 500 employees

Project
eligibility also applies

SBA
504 Loan Program

Secure
long-term financing to buy, construct
or renovate commercial property. With
a SBA 504 loan, you can even purchase
equipment.

Loan
Amounts

$125,000
to $5.5 million

Business
Situation

Purchase
a fixed asset, such as land
and building.

Your
business must occupy at
least
51% of the property.

Renovate
or expand commercial property.

Your
business must occupy at
least
51% of space.

Purchase
equipment.

The
equipment life expectancy
must be
at least 10 years.

Benefits

Low
down payment

SBA
7A Loan Program

Get
financing for working capital, equipment
purchases and debt refinancing.

Loan
Amounts

Up
to $2 million (SBA 7A program)

Business
Situation

Get
working capital for a loan term
up to 10 years.

Purchase
equipment that has a life
expectancy
of at least 10 years.

Benefits

Term
of loan depends on loan purpose

No
prepayment penalty

For
more information on Ocean Bank’s Small Business
loan programs, call 305-569-5597.